Illinois General Assembly - Full Text of HB5003
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Full Text of HB5003  102nd General Assembly

HB5003enr 102ND GENERAL ASSEMBLY

  
  
  

 


 
HB5003 EnrolledLRB102 24000 CMG 33207 b

1    AN ACT concerning education.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The School Code is amended by changing Section
52-3.127a as follows:
 
6    (105 ILCS 5/2-3.127a)
7    Sec. 2-3.127a. The State Board of Education Special
8Purpose Trust Fund. The State Board of Education Special
9Purpose Trust Fund is created as a special fund in the State
10treasury. The State Board of Education shall deposit all
11indirect costs recovered from federal programs into the State
12Board of Education Special Purpose Trust Fund. These funds may
13be used by the State Board of Education for its ordinary and
14contingent expenses. Additionally and unless specifically
15directed to be deposited into other funds, all moneys received
16by the State Board of Education from gifts, grants, royalty
17payments, or donations from any source, public or private,
18shall be deposited into the State Board of Education Special
19Purpose Trust Fund. These funds shall be used, subject to
20appropriation by the General Assembly, by the State Board of
21Education for the purposes established by the gifts, grants,
22royalty payments, or donations. Any royalty payments received
23by the State Board of Education as a result of licensing

 

 

HB5003 Enrolled- 2 -LRB102 24000 CMG 33207 b

1agreements or any other agreements entered into by the State
2Board of Education, regardless of the original fund source,
3shall be deposited into the State Board of Education Special
4Purpose Trust Fund and, subject to appropriation by the
5General Assembly, shall be expended in a manner consistent
6with law.
7(Source: P.A. 94-69, eff. 7-1-05; 95-707, eff. 1-11-08.)
 
8    Section 99. Effective date. This Act takes effect upon
9becoming law.